TUSTIN, Calif. (AP) — Avid Bioservices Inc. (CDMO) on Tuesday reported a loss of $4.8 million in its fiscal fourth quarter.

The Tustin, California-based company said it had a loss of 11 cents per share.

The contract manufacturer posted revenue of $12.6 million in the period.

For the year, the company reported that its loss widened to $10.5 million, or 27 cents per share. Revenue was reported as $59.7 million.

Avid Bioservices expects full-year revenue in the range of $76 million to $81 million.

Avid Bioservices shares have decreased 14% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $6.57, an increase of roughly 8% in the last 12 months.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CDMO at https://www.zacks.com/ap/CDMO

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